The unemployment rate in Australia fell to 4.6% in July, according to data released by the Australian Bureau of Statistics this morning, Wednesday, compared to 4.9% in June, and better than expectations that indicated a rise to 5%, as this decline in unemployment came from the decline in the participation rate to 66% from 66.2% in June, bringing the number of the unemployed down by 39,900 thousand to 639,200 thousand.
On the other hand, employment rose by 2,200 thousand people to reach 13,156.400 million people after adding 29.1 thousand jobs in June, while expectations indicated a loss of more than 40 thousand, and full-time employment decreased by 4200 thousand to 9,012.600 million people, while employment in Daum increased Partial by 6,400 thousand to 4,143,800 thousand people.
The Australian dollar is trading at 0.7185 levels against the US dollar this Thursday morning, down by about 50 points, affected by the US dollar’s gains.
07/11/2024
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